Newsletters

Driving Profits is filled with valuable information on tax, audit, and other breaking issues facing the automotive-dealership industry. Although we advise that dealerships continue to consult directly with an accounting expert before making any tax or accounting decisions, this newsletter is a great way to keep current.

As NAFTA Ends, How Will its Replacement Impact the Auto Industry? The North American Free Trade Agreement (NAFTA) is a trilateral trade agreement between the United States, Canada, and Mexico that was signed on January 1, 1994. On September 30, 2018, ...

How Will the Trump Tariffs Impact the Auto Industry? President Trump has proposed imposing 25 percent tariffs on imported automobiles and automotive parts. The estimated effects of such tariffs would be widespread in the automotive industry as even & ...

The Auto Industry and the Rise of Cryptocurrency With the rise in use of cryptocurrencies such as Bitcoin and Ether, it is important that auto dealers begin to understand the U.S. tax treatment of cryptocurrencies for balance sheet and compliance pur ...

How Will The New Tax Laws Impact Your Dealership? While the Tax Cuts and Jobs Act has resulted in a simplification of tax obligations for some tax payers, there are new, added complexities for business owners. Since the 2018 tax season is now upon us ...

What Does Every M&A Transaction Have in Common? Every sale or purchase of a dealership is unique – or is it? With all the factors that go into any given deal, an initial response to that question, is to say, “Each M&A transaction is as un ...

Your Dealership’s Hurricane and Disaster Planning Guide 2017 Proper preparation is the key to getting through hurricane season, or just about any natural disaster for that matter! Although the 2017 hurricane season has been predicted to be mild ...

MBAF Certified Public Accountants LLP trading as MBAF Certified Public Accounts, LLP is a member of the global network of Baker Tilly International ltd., the members of which are separate and independent legal entities.

Latest Advisories

The Tax Cuts and Jobs Act, (The Act), has brought with it many changes that impact all taxpayers. One of the provisions of The Act that may impact many Americans is the new legislation that repealed the alimony deduction after 12/31/2018. Most people ...

Patient investors generally have prospered over the long term. Nevertheless, there are many reasons for selling stocks. Knowing the basics can help improve your tax position. Selling shares held in a taxable account will trigger taxable capital gains ...

It is now the middle of February, 2019 and we have already been exposed to a great many tax returns that are subject to the new IRS Partnership audit rules, which became effective on January 1, 2018. Unfortunately, we have seen very few Partnerships ...